Six Great Ways to Market Your Forex Services in 2018
The foreign exchange market, or Forex for short, is the largest and most liquid market in the world. Many financial experts know this, of course, but the possibility of Forex trading is still foreign to many investors. Regardless, more investors are interested in trading on Forex markets, and more brokers are offering Forex services. This presents both opportunities and challenges.
The opportunity for brokers and financial experts is simple: more people want to trade on forex markets, which means increased demand for forex brokering services as well as financial advice. However, where there is ample opportunity, there will usually be considerable competition.
That’s why we’re going to go over some savvy forex marketing strategies to both gain new customers and retain current ones in 2018.
1. Financial Trading is all about Trust
For many people, investing is an exciting but also scary prospect. There is money to be made, but with the opportunity for profit there is almost always an assumption of risk. Investors want to work with brokers and financial advisors they can trust and that they can leverage to reduce risks.
Most customer relationships center around trust. However, given the stakes involved with financial investing, the need for trust is all the greater because potential customers are going to scrutinize everything. Financial services firms looking to market their services must focus on building trust with potential clients.
This means providing good content and knowledge, among other things. Showing off credentials, successful investment portfolios, and other assets can also help build trust. No matter what methods you choose, what’s essential for every Forex investing strategy is to build and strengthen trust.
2. Be “The” Thought Leader
One way to establish trust is to establish yourself as a thought leader and expert. Expertise is crucial for every industry, but for finance it’s all the more important. Experts make money, non-experts often lose money.
Sadly, there are a lot of scams and charlatans out there. There are also a lot of genuine experts, which is great except for the fact that it means you’ll face stiff opposition. Once again, trust is important, and expertise is a great way to build trust.
So, stand out by building up your expertise. Bring savvy professional investors on staff to offer advice. Show off past successes, such as portfolios and sage advice that outperforms market averages. Get market analysts on the front line to work with customers.
• Other efforts to consider:
• Investing tutorials and wikis
• Webinars and podcasts
• Live online investing conferences
• Live customer chat and support features
• Market analysis and commentary
3. To Get You Have to Give
One way to get customers is to give them something in exchange. Considering the importance of trust, you can start by giving potential customers knowledge, such as eBooks. However, you shouldn’t stop there. You should also consider giving them immediately valuable things, such as rebates, discounts, or even free cash.
Yes, this can get expensive but if it helps you establish a long-term relationship, the rewards will outweigh the costs. Of course, you need to qualify customers before rewarding them too much.
Perhaps you start by giving investors 10 free trades. After those ten free trades are used up, you can offer to match 10% of their investment. So, if they invest $1000, you can provide them with $100 in additional capital. This way you know they are committed and you are providing them rewards directly in line with their investments.
4. Show Off Your Competitive Edges
Besides building trust, another key aspect for any marketing campaign is to highlight competitive advantages. This is certainly true when marketing Forex services and financial services in general. If you can offer unique services and features, it’s possible that investors will be able to leverage those for profits.
Think long and hard about what your competitive advantages are. Also, examine the competition. Is there a way you can nullify their advantages? If competitors are offering spreads of only say .2 pips, can you offer a spread of just 1 pip?
5. Generate Discussion
These days, customers want a two-way relationship. They don’t want to “just” listen, they also want to talk. You can enable discussion on your platform and through your marketing efforts. For example, set up chat systems that customers can use to chat directly with investing experts. When holding online conferences, make sure you set aside time for questions and answers. There are many other possibilities.
6. Use Social Media and Other Platforms to Target
Financial services marketing campaigns generally produce the best results when they are hyper-targeted. Fortunately, social media is making it easier to target people. For example, you can use Facebook to target people who follow investing news websites and investing interest groups. You can use LinkedIn to target professional investors and high-income earners as well.
You can also leverage content websites like Seeking Alpha. Have some of your resident experts publish articles and advice on Seeking Alpha, for example. They will gain followers and build up a reputation on an investing focused website.